Job Description
This is an opportunity to join Ascot Group - one of the world's preeminent specialty risk underwriting organizations.
Designed as a modern-era company operating through an ecosystem of interconnected global operating platforms, we're bound by a common mission and purpose: One Ascot. Our greatest strength is a talented team who flourish in a collaborative, inclusive, and entrepreneurial culture, steeped in underwriting excellence, integrity, and a passion to find a better way, The Ascot Way.
The Ascot Way guides our people and our organization. Our underwriting platforms collaborate to find creative ways to deploy our capital in a true cross-product and cross-platform approach. These platforms work as one, deploying our capital creatively through our unique Fusion Model: Client Centric, Risk Centric, Technology Centric.
Built to be resilient, Ascot maximizes client financial security while delivering bespoke products and world class service — both pre- and post-claims. Ascot exists to solve for our clients' brightest tomorrow, through agility, collaboration, resilience, and discipline.
Job Purpose
To provide complete underwriting support for the Excess Casualty Underwriting team.
Detailed Duties
Underwriting
Where possible be present at all stages of the insurance broke
Populate risk template with relevant data
Entry of mandatory risk details onto S2000
Ensure insured name is correct on S2000
Completion of Electronic Front Sheet (EFS)
Ensure inclusion of Technical Premium and Rate Movement onto S2000
Make sure relevant documentation is scanned against the S2000 reference
Support of Underwriters and Assistants in ensuring overall Syndicate SLA's are maintained
Scanning relevant Underwriter sign off when required
Compliance
SLAs for slips and endorsements
Assist with Lloyds licencing requirements
Send relevant slips for pre-bind check and follow up any fails that may occur with the underwriter/broker
Assist with completion of sanctions checks
Completion of annual compliance training
Compliance bulletin review and action
Assist with ensuring downgrade clauses comply with Ascot's policy and highlighted correctly on front sheet.
Facultative Reinsurance Purchasing
Assist with the purchasing of reinsurance placements and any issues that may arise.
Make sure that any endorsements that affect the facultative reinsurance are notified to the relevant team
Understanding of current RI purchase procedures .
Renewals
Prepare renewals in advance
Ensure that all renewals are actioned including all non-renewed premiums
Aggregates
Make sure the correct aggregation boxes have been ticked on front sheets, and if changed then the right reason for aggregation change selected.
Ensure all schedules are available and passed to Polo at the time of underwriting
Where required chase the broker for outstanding schedules.
Attendance
Attendance at the monthly administration and Claims meetings when required
Credit Control
Review the weekly credit control report and action. For risks over 31 days overdue refer to the underwriter.When applicable send relevant comments on the chasing of premium to Xchanging. Review inward XL premium adjustments.
Workflow Management
Review of partial policies
Un-scanned slips
Promised lines
Quotations
Reporting
Claims data - reporting discrepancies between submissions and S2000 data
Aggregation reports
Quarterly class reports
UMC Reports
UAS Reports
Review and action of exception reports
Client Management (when requested)
Attend client and broker meetings.
Take notes and publishing to S2000.
Ensure action points are followed up.
Facility Management
Chase and process relevant bordereaux
Reconciliation of estimated premium to actual
Review of signed premium against estimated premium
Assist in scanning of delegated underwriting form.
Query Resolution
Slips within SLA
Endorsements
Aggregation
USM's
BST
Polo
Velonetic
Working Knowledge of Systems
IMR
Crystal/Lloyds QA Tool
S2000 (Subscribe)
Swordfish
GAAP
Other Duties
Ad-hoc duties as directed by line management.
Implementation of new procedures.
Please be aware that Ascot Group's job opportunities will be posted on our official careers page. All official communication comes from email addresses, if you receive a job offer or recruitment communication from Ascot Group that you suspect might be fraudulent, do not hesitate to contact us directly to verify its legitimacy. We will never ask for payment or sensitive personal information during any stage of the recruitment process. Your privacy and trust are of utmost importance to us, and we strive to ensure that you have a positive experience with Ascot Group.